Congress Wealth Management LLC DE Takes $13.80 Million Position in Baker Hughes (NASDAQ:BKR)

Congress Wealth Management LLC DE acquired a new stake in shares of Baker Hughes (NASDAQ:BKR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 336,511 shares of the company's stock, valued at approximately $13,804,000.

A number of other institutional investors have also modified their holdings of BKR. JFS Wealth Advisors LLC grew its position in shares of Baker Hughes by 135.9% during the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company's stock worth $27,000 after acquiring an additional 386 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Baker Hughes during the 4th quarter valued at about $30,000. Larson Financial Group LLC grew its position in Baker Hughes by 41.2% in the 4th quarter. Larson Financial Group LLC now owns 740 shares of the company's stock worth $30,000 after purchasing an additional 216 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company's stock valued at $31,000 after purchasing an additional 829 shares during the period. Finally, Continuum Advisory LLC raised its holdings in shares of Baker Hughes by 442.2% during the third quarter. Continuum Advisory LLC now owns 976 shares of the company's stock valued at $35,000 after buying an additional 796 shares during the last quarter. Institutional investors own 92.06% of the company's stock.

Insider Activity

In related news, EVP Maria C. Borras sold 8,000 shares of the company's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the transaction, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.

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Analyst Upgrades and Downgrades

A number of research firms have commented on BKR. TD Cowen dropped their price target on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Barclays increased their price objective on Baker Hughes from $51.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Susquehanna raised their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a "positive" rating in a report on Monday, February 3rd. Atb Cap Markets lowered Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group lifted their price target on Baker Hughes from $51.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, Baker Hughes currently has an average rating of "Moderate Buy" and an average target price of $51.06.

Baker Hughes Stock Performance

Shares of NASDAQ:BKR traded up $0.58 on Tuesday, hitting $45.18. 7,541,276 shares of the company were exchanged, compared to its average volume of 6,270,701. The company's 50 day moving average price is $44.96 and its two-hundred day moving average price is $41.50. The firm has a market capitalization of $44.73 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 2.00 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. Baker Hughes has a one year low of $30.93 and a one year high of $49.40.

Baker Hughes (NASDAQ:BKR - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Research analysts expect that Baker Hughes will post 2.59 earnings per share for the current year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.04%. This is a boost from Baker Hughes's previous quarterly dividend of $0.21. The ex-dividend date was Tuesday, February 11th. Baker Hughes's dividend payout ratio is currently 30.87%.

About Baker Hughes

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.